[SMM Rare Earth Morning Briefing] Pr-Nd Oxide and Dysprosium Oxide Rise Together, Metals Follow Suit with Transactions Gaining Traction, Magnetic Material Scrap Prices Increase Across the Board

Published: Aug 27, 2026 10:14

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[Pr-Nd oxide and dysprosium oxide rise together, metals follow gains with transactions catching up, magnetic material scrap sees full-scale price increases] Yesterday, Pr-Nd oxide extended this week's upward trend amid fluctuations in futures prices; dysprosium oxide prices, driven by large-factory purchases, continued to rise. Overall, Pr-Nd oxide and dysprosium oxide prices rose in tandem, terbium oxide remained stable, and major rare earth product prices consolidated on a strong note.

SMM, August 27:

Rare Earth Ore:

Prices: Medium-yttrium, europium-rich ore prices were about 248,000 yuan/mt, monazite prices were about 43,000 yuan/mt, and rare earth carbonate prices were about 59,300 yuan/mt.

Supply and Demand: Currently, the supply of ion-adsorption rare earth ore from Southeast Asia dipped slightly from the previous period, and oxide prices began to rise. Overall transaction prices for rare earth ores started to edge up.

Rare Earth Oxides:

Prices: Pr-Nd oxide offers continued to rise, with a small volume of transactions following; dysprosium oxide prices increased further, while terbium oxide price fluctuations were relatively small.

Supply and Demand: Yesterday, influenced by fluctuations in futures prices, Pr-Nd oxide extended its upward trend for the week; dysprosium oxide prices continued to move higher, driven by purchases from major producers. Overall, Pr-Nd oxide and dysprosium oxide prices rose together, while terbium oxide remained stable. Prices of major rare earth products consolidated on a strong note.

Rare Earth Metals:

Prices: Pr-Nd alloy prices edged up, with increased market inquiry activity, dysprosium-iron alloy prices continued to rise, and terbium metal prices were flat.

Supply and Demand: Yesterday, Pr-Nd alloy prices edged up, mainly driven by raw material prices. Metal producers raised their offer prices, and market inquiry activity increased, with transactions following sequentially. However, concluding deals at high prices remained difficult. In the medium-heavy rare earth market, as low-priced oxide supply continued to tighten, dysprosium-iron alloy prices rose further, while terbium metal prices saw no significant adjustment, operating steadily overall.

NdFeB Blanks:

Prices: NdFeB blank N38 (Ce) was quoted at 212-222 yuan/kg, blank 38M at 250-270 yuan/kg, and blank 38UH at 357-377 yuan/kg.

Supply and Demand: Yesterday, NdFeB blank offers increased slightly, primarily because rising raw material prices drove up magnetic material prices. On the trading side, in the last week of August, most downstream motor plants and end-users gradually resumed operations, and the frequency of inquiries for export orders increased. However, actual order volumes remained limited, leaving overall market trading volume modest.

NdFeB Scrap:

Prices: Prices for Pr-Nd recycled from NdFeB scrap continued to rise, while prices for dysprosium and terbium recycled from NdFeB scrap held steady.

Supply and Demand: Yesterday, scrap market prices continued to rise, mainly driven by persistently higher oxide prices. Purchase offers from recycling enterprises continued to increase, and some scrap suppliers showed a greater willingness to sell. Although the circulation of compliant, tax-inclusive scrap in the market edged up, most suppliers remained in a wait-and-see stance, and procurement for recycling enterprises remained difficult.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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